Jones Group CEO Wesley Card is stepping down following the Seventh Avenue apparel company’s acquisition by Sycamore Partners.
Sycamore, a New York buyout firm, last week completed its $2.2 billion acquisition of Jones and announced it has separated the company from its Stuart Weitzman and Kurt Geiger brands.
On Tuesday, Sycamore said it has divided what remains of Jones into four independent companies — each led by its own management team: the Nine West Group, a denim company to be named later, Jones New York, and the Kasper Group.
Card, who has served 25 years at Jones, is leaving along with CFO John McClain, Sycamore said in a statement Tuesday. McClain will continue to advise Sycamore.